placeholder

Bicycle Therapeutics Reports Second Quarter 2021 Financial Results and Provides Corporate Update

06/08/2021

  • Entered exclusive license and collaboration agreement with Ionis Pharmaceuticals to develop targeted oligonucleotide therapeutics

  • Cash was $198.7 million as of June 30, 2021, which excludes $71.9 million received in July from both the Ionis collaboration upfront and net proceeds from the at-the-market offering program

  • Cash expected to provide financial runway through multiple clinical milestones expected in the second half of the year and into 2024

Bicycle Therapeutics plc (NASDAQ: BCYC), a biotechnology company pioneering a new and differentiated class of therapeutics based on its proprietary bicyclic peptide (Bicycle®) technology, today reported financial results for the second quarter ended June 30, 2021 and provided recent corporate updates.

“We have made significant progress executing on our ongoing company-sponsored clinical programs over the first half of the year and, looking forward, intend to announce interim clinical data from the Phase I portion of our Phase I/II clinical trials of BT5528 and BT8009, along with the expected Phase I/II BT7840 trial initiation, in the second half of the year,” said Kevin Lee, Ph.D., Chief Executive Officer of Bicycle Therapeutics. “Additionally, we believe our recent license and collaboration agreement with Ionis provides further validation for our contention that Bicycles have the potential to become a leading technology for the development of precision medicines. We remain well-funded and look forward to announcing multiple upcoming key clinical milestones in the second half of the year.”

Read the full article here